As time marches on, property improvements wear out and deteriorate. Major repairs and room repair renovation are inevitable and often required when least expected.

When at this point a review of the options to address the issues is appropriate. Property Owners and Managers may want to consider the following as an initial first step action plan to deal with property improvement issues.

Existing Warranties: First check for manufacturer’s and contractor’s warranties. Review your operational and maintenance manuals and other files. Talk to them and request a site inspection. Gather information and their recommendations.

Insurance: Check to see if you have insurance coverage. Talk to your agent and request an adjuster do a site inspection. Additionally check on what premium savings are available with property improvements such as adding fire sprinklers.

Damage by Others: Consider if the deterioration was caused and/or exacerbated by detrimental events under the control or responsibility of others.

Incentives and taxes: Look into energy, water or other cash incentives or savings programs. Review tax ramifications and additional deductions and/or credits.

Government Mandated Changes: Investigate if the government is requiring implementation of current building codes now or in the near future. Code upgrades may be required to obtain a building permit determined by the scope of work.

Risk Assessment: Evaluate the property for unsafe, non compliant code conditions. Are there any accidents waiting to happen? Consider deteriorated components that are allowing additional damage that will cost more to fix later.

Property Revenue: Consider if the property has lost its market appeal with income revenue falling off. Calculate what kind of pay back improvements would yield.

Experts: Consult with an expert(s) and possibly an attorney specializing in the appropriate area regarding the issues and results of the items above. Exhaust all reimbursement options.

Ballpark Budget: Develop a first pass budget and business plan.

BULLSEYE CYPRUS has proven results for setting exceptional standards in cost control, planning, scheduling and project safety. We have experience that gives us a competitive advantage over others in our field.